Freightos Founder Mounts Push to Oust Chairman After Stock Slide

The founder of cargo booking platform Freightos Ltd. is calling for a board shakeup including the ouster of Chairman Udo Lange, citing a 62% drop in the company’s share price during Lange’s tenure.

In a registry posted online, Zvi Schreiber, who launched Freightos in 2012 and led it for 14 years, is calling for other shareholders to join him in finding “a new chairman with a technology-growth background.”

Schreiber said he’s pushing for a recommitment to “aggressive” growth of the platform and a team rebuilt around “a strategy worth staying for” to stem an exodus of senior talent. Schreiber is also calling for directors’ terms to be shorted to one year from three.

Lange, who joined the board in 2019, was appointed non-executive chairman in July 2025.

A spokesman for Freightos didn’t immediately return email requests for comment.

Schreiber, who records show holds about 6.1% of shares outstanding, said that he’s asking shareholders to register their emails “so that when the moment comes to vote for change, and I’m going to fight to uphold our right to that vote, you’ll hear from me and make your own decision.”

With offices in Israel and Spain, Freightos went public in 2023 with special purpose acquisition company Gesher I Acquisition Corp., listing on the Nasdaq under the ticker “CRGO.”

Freightos has been among the most prominent companies aiming to digitize air and sea cargo transactions by connecting shippers, forwarders and carriers, in a strategy Schreiber said is intended to make it the “Booking.com” of global logistics.

Freightos shares hit an intraday peak topping $31 a share on its first day of trading in January 2023. On Tuesday it closed at $1.27.

“International freight is still in the early innings of digitalization, and Freightos remains the best-positioned company in the world to lead it,” Schreiber said in the petition. “But that lead is slipping.”